Bill > SB2143

This bill modifies existing Oklahoma law regarding ad valorem tax, which is a tax based on the assessed value of property. Specifically, it updates the definition of "Accepted standards for mass appraisal practice" to include standards from the International Association of Assessing Officers and clarifies the "Cost approach" definition. More significantly, it amends the section on physical inspection of real property to allow county assessors to use digital visual technology, such as aerial images from fixed-wing aircraft or satellites, to gather data for property valuations, in addition to or in place of physical inspections. The bill also updates the language regarding the Ad Valorem Task Force to the Ad Valorem Division of the Oklahoma Tax Commission and sets an effective date of November 1, 2026.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb2143&Session=2600